August 7, 2020 By PrintAction Staff
Inx International Ink has announced it will increase the prices of all solvent inks and coatings for its North American customers, effective Sept. 1, 2020.
The company made the decision despite efforts to absorb costs. The expense to manufacture solvents, especially alcohols used to produce sanitizers and medical initiatives to fight the COVID-19 pandemic, has risen dramatically this year.
“We regret needing to take this action, but it is something that is beyond our control,” said Ron Deegan, INX International’s senior vice president of sales for North America. “We have worked very hard to secure our supply of solvents, even as the increased demand has put unprecedented pressure on the global solvent supply.”
Deegan went on to note that the company’s focus is to ensure it has an uninterrupted supply of solvents in order to continue to supply its customers. He added that the company will continue to monitor the situation, but Inx expects the price of solvents will “likely continue to increase”.
Deegan also noted that customers should expect communication from their Inx representatives to discuss specifics, including answering questions and providing market data that justifies the company raising its solvent inks and coatings prices.
Inx is the third-largest producer of inks in North America. Flint Group Packaging Inks also recently announced a North American price increase for its solvent-based business, effective July 2020, also in an effort to alleviate material cost increases.
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